NOT A single application by a peer-to-peer lender for FCA authorisation was rejected outright since the regulator took over responsibility for the sector in 2014, but more than 80 per cent of applications were withdrawn.

THE OWNER of the Academy of Contemporary Music (ACM), which counts Ed Sheeran (pictured) and Kate Nash among its former students, has secured a £2.4m loan from peer-to-peer lender ThinCats to expand the business.